W Armitage Ave & N Damen Ave, Chicago, IL 60647, USA
Sold, Sold 2017 - 2-4 Unit
  • Sale Price :$770,000
  • Gross Rents:$6,700
  • Cash Flow ( 20% Down Loan ):$1,647
  • Net Rents ( Less Expenses ):$4,727
  • Cap Rate: 7.36%
  • Number of Units: 3
  • Cash Flow (Low Money Down Loan): $704
  • Cash on Cash ( Low Money Down Loan): 21.94%
  • Cash on Cash ( 20% Down Loan ): 12.83%

This is a huge legal 3 unit property in Bucktown that was gut rehabbed in 2007.  It had two large 3 bedroom / 2 bath units and a smaller 2 bedroom / 1 bath with a rooftop deck.  Because the exterior and plumbing/electrical were newer the rents could be increased dramatically with some cosmetic updated to the kitchens and bathrooms.  We estimated with $120k of updated they could increase rents by $1,750

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